PDF SOLUTIONS INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
PDFS$39.16-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, | ||||||
| | 2024 | 2023 | ||||
| Cash flows from operating activities: | | | | | | |
| Net income | | $3,518 | | $2,218 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | ||
| Depreciation and amortization | | 2,895 | | 3,778 | ||
| Stock-based compensation expense | | 18,540 | | 15,561 | ||
| Amortization of acquired intangible assets | | 2,466 | | 2,659 | ||
| Amortization of costs capitalized to obtain revenue contracts | | 1,941 | | 1,494 | ||
| Net accretion of discounts on short-term investments | | | (1,239) | | | (734) |
| Accretion of unguaranteed residual assets | | | (488) | | | (51) |
| Deferred taxes | | (35) | | 43 | ||
| Other | | (68) | | (55) | ||
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable | | (1,743) | | 1,185 | ||
| Prepaid expenses and other current assets | | (8,831) | | (7,038) | ||
| Operating lease right-of-use assets | | 1,241 | | 904 | ||
| Other non-current assets | | (11,478) | | (928) | ||
| Accounts payable | | 2,995 | | (2,697) | ||
| Accrued compensation and related benefits | | (1,608) | | (5,342) | ||
| Accrued and other liabilities | | (16) | | 393 | ||
| Deferred revenues | | 2,771 | | 3,681 | ||
| Billings in excess of recognized revenues | | (1,479) | | (1,612) | ||
| Operating lease liabilities | | (1,285) | | (888) | ||
| Net cash provided by operating activities | | 8,097 | | 12,571 | ||
| | | | | | | |
| Cash flows from investing activities: | | | | | | |
| Proceeds from maturities and sales of short-term investments | | 57,125 | | 28,800 | ||
| Purchases of short-term investments | | | (43,054) | | | (32,250) |
| Purchase of convertible promissory note | | | (2,000) | | | — |
| Proceeds from sale of property and equipment | | | 55 | | | 105 |
| Purchases of property and equipment | | | (11,573) | | | (8,574) |
| Prepayment for the purchase of property and equipment | | | (365) | | | (343) |
| Purchases of intangible assets | | | — | | | (150) |
| Payment for business acquisition, net of cash acquired | | | — | | | (1,823) |
| Net cash provided by (used in) investing activities | | 188 | | (14,235) | ||
| | | | | | | |
| Cash flows from financing activities: | | | | |||
| Proceeds from exercise of stock options | | 114 | | 469 | ||
| Proceeds from employee stock purchase plan | | 4,073 | | 3,832 | ||
| Payments for taxes related to net share settlement of equity awards | | (8,196) | | (9,135) | ||
| Repurchases of common stock | | (6,899) | | (743) | ||
| Net cash used in financing activities | | (10,908) | | (5,577) | ||
| | | | | | | |
| Effect of exchange rate changes on cash and cash equivalents | | 73 | | (763) | ||
| Net change in cash and cash equivalents | | (2,550) | | (8,004) | ||
| Cash and cash equivalents at beginning of period | | 98,978 | | 119,624 | ||
| Cash and cash equivalents at end of period | | $96,428 | | $111,620 | ||
Continued on next page.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – CONTINUED
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, | ||||||
| | | 2024 | 2023 | |||
| Supplemental disclosure of cash flow information: | | | | | | |
| Cash paid during the year for income taxes | | $2,064 | | $3,568 | ||
| Cash paid for amounts included in the measurement of operating lease liabilities | | $1,290 | | $1,160 | ||
| | | | | | | |
| Supplemental disclosure of noncash information: | | | | | | |
| Property and equipment received and accrued in accounts payable and accrued and other current liabilities | | $4,774 | | $697 | ||
| Advances for purchase of property and equipment transferred from prepaid assets to property and equipment | | $89 | | $66 | ||
| Operating lease liabilities arising from obtaining right-of-use assets | | $679 | | $— | ||
| Property and equipment transferred to sales-type leases | | $4,021 | | $6,002 | ||
| Stock-based compensation capitalized as part of the cost of property and equipment, net | | $233 | | $— | ||
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